The impact fees shall be calculated for each development project as follows, pursuant
to the impact fee amounts as stated in the Master Fee Schedule in effect at the time
of a complete building permit application:
Impact Fee = Fee Per Housing Unit x Additional Housing Units
The impact fee amount shall automatically be adjusted upward annually for inflation
on July 1st beginning on July 1, 2021, by the City Administrator in accordance with
the percentage increase from January to January in the residential building cost index
published by Marshall and Swift, or if such index ceases to be published, by an equivalent
index chosen by the City Administrator, with appropriate adjustments for regional
and local construction costs as necessary. The adjustment shall be automatically effective
whether or not the Master Fee Schedule has been amended to reflect the adjustment.
(Ord. No. 13365, § 4, 5-3-2016)
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